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40. A grandfather tells his grandson that he has created a trust fund for him. The terms of the trust are as follows: $10,000 per
40. A grandfather tells his grandson that he has created a trust fund for him. The terms of the trust are as follows: $10,000 per year for 30 years will be paid to the grandson. The money will be invested in an account that pays 5% annual interest. The payments to the grandson will start 15 years from today. How much money does the grandfather need to endow the trust with today to fund all the payments to the grandson
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